So in Chapter 11 for the big boys they address reality and treat the value of the property the way it is. But in individual little guy petitions for relief in bankruptcy court, they stick you with the entire amount of the Note even if the security is only worth 20% of the “principal.” And […]

Tags: banks, Chapter 11, Chapter 13, Chapter 7, creditor, fair market value, investors, Personal responsibility
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Note: Thanks to Allan again. If there is one person in a relatively high position who has understood the subprime crisis, acquired the information on securitization, named the villains and described their practices separating honest people from their money it is Elizabeth Warren, whose was barely heard over the din of back-slapping during the […]

Tags: bankruptcy, banks, Boston Globe, Bruce Mann, Charles Pierce, Congressional Oversight, Elizabeth Warren, foreclosure defense, foreclosure offense, fraud, gaap, Marcy Kaptur, mortgage meltdown, mortgage securitization, TARP, Wall Street
Posted in bubble, Corruption, Eviction, securities fraud |

now available on kindle/amazon! Bank and Regulators neglect-and-inaction-7-10-09-final IndyMAc Bank FSB. v Yano-Horosky Nevada Law Practical RP Issues VIDEO: Preparing for Hyper Inflation People (including lawyers cross-examining me as an expert witness) ask “How do you know that?” Or sometimes they will ask “How do you know you’re right?” My answer is that it’s not […]

Tags: amazon, banks, demand deposit accounts, depository, extinguishment of obligation, invalidation of mortgages, invalidation of notes, kindle, mortgage meltdown, regulators, securitization, speculation, Wall Street
Posted in bubble, Corruption, Eviction, securities fraud |

  Bank earnings falling off, failures still a threat on the horizon.   Even with the phoney accounting rules allowed by the SEC and the FASB, the reported earnings of most banks are taking major hits. Hidden below the surface of this bad news is more bad news as the rate of delinquencies, foreclosures, evictions, […]

Tags: amnesty, banks, credit crisis, earnings, mortgage meltdown
Posted in bubble, Eviction |

April 3, 2008 Court Approves Review of Countrywide Practices By DOW JONES/AP PHILADELPHIA (Dow Jones/AP) — A federal judge has authorized an examination of the mortgage processing systems of the lending giant Countrywide Financial by bankruptcy investigators seeking evidence that the company systematically abuses borrowers. Judge Thomas P. Agresti of the Federal Bankruptcy Court in Pittsburgh on […]

Tags: banks, countrywide, lending practices
Posted in bubble, Eviction |

Well here it is. BOA, JPM et al are getting together a fund to “buy out (i.e.., bailout) the blood soaked securities they have been spewing out into the marketplace for years. They understand the likely response of the public. They understand disaster is just days away and they are actually trying to do something […]

Tags: bailout, banks, crash, credit, economy
Posted in Uncategorized |